The right path

Photo by Boban James

Advisors walk a delicate tightrope, balancing the role of being a financial realist with that of a constructive, compassionate guide who motivates rather than discourages their clients. This challenge becomes more pronounced when working with young couples at critical financial junctures in their lives as the decisions made today can have implications on the well-being of their tomorrows.

Yeo Si Hao guides young families to achieve sustainable financial stability through property right-sizing and practical budgeting approaches.

A slippery slope

For many young, Singaporean couples looking to start families, securing a home is one of their priorities. But despite various government-assistance programs designed to improve affordability, property prices have climbed due to land scarcity and high-population density. Balancing the dream of an ideal family home with a grim financial reality can stretch budgets beyond sustainable limits.

So, the six-year MDRT member identified patterns that lead to monetary strain and developed strategies that guide his clients toward financial stability — without forgoing their dreams. Yeo works primarily with couples between the ages of 26 to 35 who are starting families.

“They tend to overextend themselves when purchasing a first home,” Yeo said. “Many young couples feel pressure to buy larger, more expensive properties, believing this will secure their family’s future.”

Yet, this initial overcommitment creates a ripple effect: Beyond steep mortgage payments that eat up a high percentage of income, these couples take on a secondary wave of expenses to turn their houses into homes. The result? Low cash flow.

“Couples frequently invest heavily in home improvements, opt for expensive furnishings and take on installment plans for renovations,” Yeo explained. “This understandable desire to create an ideal living environment quickly becomes a financial burden that compromises emergency savings, education funds and retirement planning.”

Building relationships on relatability

Yeo’s success with clients stems from his ability to relate to their challenges. As a father of two and caretaker of an elderly parent, he’s a member of the sandwich generation and understands their financial pressures and encroaching responsibilities. This background enables him to approach conversations with empathy.

His practice creates safe spaces where clients openly discuss their financial concerns without fear of criticism. Yeo prioritizes financial literacy, which he believes is crucial for empowering clients. By helping them understand the whys behind his recommendations, he transforms the advisor-client relationship into a collaboration.

The approach includes regular check-in sessions that serve as accountability moments and opportunities to celebrate progress. They help clients stay committed to their financial plans and provide the emotional support needed to navigate challenging transitions.

The spending sleuth

Yeo implements a clear framework that clients can visualize and apply right away. A comprehensive cash-flow analysis enables him to establish baselines that reveal spending patterns they might not have noticed.

When addressing property decisions, he looks at life stages and future plans, including whether the couple plans to have kids. The goal is to match the property size to the clients’ needs, not their aspirations, and to balance their aspirations with their financial reality. His philosophy: “What’s the point of staying in a private property that looks good on the outside if you have to scrimp and save every penny just for that house?”

The bottom line: Clients who work with Yeo often have more cash flow in their daily lives compared with those who choose larger homes. His assessment examines multiple financial dimensions: take-home income vs. contributions to the social security, ordinary savings account, fixed monthly expenses and average cash flow, savings contributions, and potential mortgage options with varying interest rates.

He also reviews their insurance coverage to ensure they’re adequately protected now and will be as they take on more liabilities. Payouts should be sufficient to cover the mortgage loan if either partner becomes ill and unable to work. He makes sure clients understand available protections and clarifies their limitations.

Winning hearts and mindsets

When clients have a clearer picture of their financial situation, Yeo guides them toward tried-and-true budgeting strategies. He introduces the 50-30-20 rule, which suggests allocating 50% of income to needs, 30% to wants, and 20% to savings and debt repayment. For young couples facing many financial demands, this simple mental model provides greater clarity about spending priorities.

He also advocates for a save-first, spend-later approach that prioritizes savings over discretionary spending. This reordering of financial habits counters the consumption-first mentality that drives overspending. To reinforce these new habits, he recommends digital tools such as the Wally budgeting app, which provides immediate feedback on spending decisions. It promotes accountability and gives clients insights into their spending patterns so it’s easier for them to stick to budgets.

But Yeo recognizes that sustainable fiscal management requires more than just budgeting techniques. Psychology is involved.

“Clients must move from a short-term gratification mindset to prioritizing long-term financial well-being,” he said.

This transition rarely happens through financial education. Instead, it emerges as clients navigate life’s inevitable challenges and responsibilities. Yeo positions himself as a compassionate guide and a financial realist to help them connect present decisions with future outcomes. Addressing the emotional and practical dimensions of money management enables clients to make more informed choices without feeling judged and to develop more sustainable habits that will complement their changing life circumstances.